$On$ April $1,2022,$ the Bush Investment Traders Corporation $[BIT]$ purchased a call option for $\frac{?}{(\frac{?}{?}\text{\$}175\frac{?}{?})}on$ the Worldwide Hotels, Inc., $[WWH]$ common shares. This call option gives $[BIT]$ the right $to$ buy $700$ shares $of[WWH]atan$ exercis$\frac{e}{s}$trike price $of\frac{?}{(\frac{?}{?}\text{\$}27\frac{?}{?})}$ per share any time during the next six months. The market price $of[WWH]$ shares was $\frac{?}{(\frac{?}{?}\text{\$}27\frac{?}{?})}$ per share $on$ April $1,2022.On$ June $30,2022,$ the fair value $of$ the option was $\frac{?}{(\frac{?}{?}\text{\$}10,000\frac{?}{?}).}On$ the following day when the market price for $[WWH]$ stock was $\frac{?}{(\frac{?}{?}\text{\$}38\frac{?}{?})}$ per share, $[BIT]$ exercised the option.

$On$ July $1,2020,$ Pelosi Corporation, Inc., $[PCI]$ purchased a put option for $$4,000,$ which gave $it$

the right $to$ sell $1,000$ shares $of$ Sunak Ships, Inc., $[SSI]$ for $$30$ each until July $1,2021.On$

November $6,2021$ SSI shares are trading $at$ $$25$ each and SSI settles the option directly $(without$

receiving the SSI shares$).$ The derivative has not been updated since the date $of$ purchase. The

journal entry $on$ the books $of$ PCI $to$ record this transaction $on$ November $6,2021$ would $be$:

$On$ November $30,2020,$ Singh Inc., made the journal entry $to$ record the exercise $of$ a call option $it$

purchased $on$ May $1,2020$ for $$9,500,$ which gave $it$ a right $to$ purchase shares $of$ Balsa Inc., for

$$10$ each until December $31,2020.$ The fair value $of$ the call option was last updated $on$ October

$31,2020.$ The following journal entry was made:

$DR....$ Investment$-$ Balsa Inc., Common Shares $........$ $$145,000$;

$CR.....$ Derivative $-$ Call Option $........$ $$18,000$;

$CR....$ Cash $.......$ $$100,000$;

$CR....$ Gain $on$ Derivative $-$ Call Options $........$ $$27,000.$

Determine the market value $of$ Balsa shares $on$ November $30,2020,$ the number $of$ shares

purchased, the total overall gain $or$ loss from the call option and the fair value $of$ the call

option $on$ October $31,2020.$

Assume the same facts $in$ Question $5$ above. How much would Singh Inc., have asked for $as$ a cash

settlement $(net$ settlement$)of$ the call option $on$ November $30,2020$ had they decided not $to$ take

delivery $of$ the Balsa Inc. shares?